CNOOC acquires Bozhong oil and gas discovery

CNOOC has acquired the Bozhong (BZ) 29-5 oil and gas discovery in the Yellow River Mouth Sag of Bohai Bay.

Offshore staff

HONG KONG -- CNOOC has acquired the Bozhong (BZ) 29-5 oil and gas discovery in the Yellow River Mouth Sag of Bohai Bay.

The wildcat BZ29-5-1, which was drilled on structure BZ 29-5 in the Yellow River Mouth Sag, encountered oil pay zones of 26.2 m (86 ft), the company says. The well was drilled to 1,885 m (6,184 ft) TD, with a water depth of about 21 m (69 ft).

During the drill stem test, the well was tested to flow 1,500 b/d of oil and 220,000 cf/d of gas via 11.91-mm (0.5-in.) choke.

"The success of BZ 29-5 has further demonstrated the exploration potential of the Yellow River Mouth Sag," says Zhu Weilin, CNOOC executive VP and GM of the company's exploration department. "Since 2006, CNOOC has successfully made six discoveries in the Yellow River Mouth Sag. We believe that the area will continue to facilitate the stable growth of our production and reserve in Bohai Bay."

08/12/2008

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